Sprinkle 1/4 teaspoon cinnamon mixture and 1 tablespoon raisins over half of each biscuit.
Fold over plain biscuit half onto raisin half. Fold again, pinching edges to seal. Gently shape into a ball and repeat with remaining biscuits.
Place buns evenly spaced in lightly greased 9-inch cake pan. Brush bun tops with beaten egg.
Bake 15 to 20 minutes or until golden brown. Remove buns onto cooling rack and cool completely.
Mix confectioners’ sugar and water in small bowl. Transfer to small resealable plastic bag. Cut a small piece from a bottom corner of the bag and seal tightly. Pipe an X shape on top of each bun.